Etsy (NYSE:ETSY) Insider Josh Silverman Sells 1,671 Shares

Etsy Inc (NYSE:ETSY) insider Josh Silverman sold 1,671 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $84.00, for a total value of $140,364.00. Following the transaction, the insider owned 249,559 shares of the company’s stock, valued at approximately $20,962,956. The trade was a 0.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Josh Silverman also recently made the following trade(s):

• On Tuesday, September 1st, Josh Silverman sold 11,696 shares of Etsy stock. The shares were sold at an average price of $81.85, for a total value of $957,317.60.
• On Tuesday, August 4th, Josh Silverman sold 6,294 shares of Etsy stock. The shares were sold at an average price of $84.00, for a total value of $528,696.00.
• On Monday, August 3rd, Josh Silverman sold 41,108 shares of Etsy stock. The stock was sold at an average price of $83.11, for a total value of $3,416,485.88.
• On Friday, July 10th, Josh Silverman sold 39,161 shares of Etsy stock. The stock was sold at an average price of $79.00, for a total value of $3,093,719.00.
• On Wednesday, July 1st, Josh Silverman sold 92,404 shares of Etsy stock. The shares were sold at an average price of $74.93, for a total value of $6,923,831.72.
• On Wednesday, June 24th, Josh Silverman sold 97,389 shares of Etsy stock. The shares were sold at an average price of $79.00, for a total value of $7,693,731.00.
• On Monday, June 15th, Josh Silverman sold 50,000 shares of Etsy stock. The stock was sold at an average price of $72.50, for a total value of $3,625,000.00.
• On Tuesday, June 16th, Josh Silverman sold 52,479 shares of Etsy stock. The stock was sold at an average price of $74.00, for a total value of $3,883,446.00.

Etsy Price Performance

Shares of NYSE ETSY opened at $81.88 on Friday. Etsy Inc has a one year low of $44.00 and a one year high of $87.97. The firm’s 50 day simple moving average is $81.31 and its two-hundred day simple moving average is $67.25. The stock has a market capitalization of $7.77 billion, a P/E ratio of 45.74, a PEG ratio of 2.04 and a beta of 1.81.

Etsy (NYSE:ETSY) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($1.24). Etsy had a negative return on equity of 34.18% and a net margin of 7.32%.The business had revenue of $668.31 million during the quarter, compared to the consensus estimate of $646.10 million. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The company’s revenue was down .7% compared to the same quarter last year. As a group, equities analysts expect that Etsy Inc will post 3.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Roth Capital started coverage on Etsy in a research note on Thursday, May 21st. They issued a “buy” rating for the company. Jefferies Financial Group boosted their price target on shares of Etsy from $62.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, July 14th. Sanford C. Bernstein upgraded shares of Etsy from a “hold” rating to an “outperform” rating in a report on Thursday, August 20th. UBS Group upped their target price on Etsy from $74.00 to $86.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, Rosenblatt Securities began coverage on Etsy in a research report on Thursday, August 20th. They set a “buy” rating and a $95.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seventeen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.68.

Institutional Trading of Etsy

A number of hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System raised its stake in Etsy by 7,217.3% during the second quarter. California State Teachers Retirement System now owns 7,561,851 shares of the company’s stock valued at $569,634,000 after buying an additional 7,458,509 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Etsy by 11.1% in the 1st quarter. Renaissance Technologies LLC now owns 5,962,210 shares of the company’s stock worth $297,991,000 after purchasing an additional 594,768 shares during the last quarter. AQR Capital Management LLC boosted its stake in Etsy by 40.1% in the 4th quarter. AQR Capital Management LLC now owns 4,111,639 shares of the company’s stock worth $227,785,000 after purchasing an additional 1,177,301 shares in the last quarter. Van ECK Associates Corp grew its position in Etsy by 1.1% during the 4th quarter. Van ECK Associates Corp now owns 3,734,156 shares of the company’s stock valued at $207,022,000 after purchasing an additional 39,067 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Etsy by 51.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,278,123 shares of the company’s stock worth $163,841,000 after buying an additional 1,112,520 shares during the last quarter. 99.53% of the stock is owned by institutional investors.

Key Headlines Impacting Etsy

Here are the key news stories impacting Etsy this week:

• Positive Sentiment: Zacks Research upgraded Etsy from “hold” to “strong-buy,” providing a positive technical and sentiment catalyst for the stock. Etsy investor conference announcement
• Positive Sentiment: Etsy will participate in the Goldman Sachs Communacopia and Technology Conference on September 9. Investors may look for updates on marketplace trends, growth initiatives and outlook during the webcast fireside chat, although no new financial guidance was provided. Etsy to Participate in Upcoming Investor Conference
• Neutral Sentiment: Several executives and directors reported stock sales totaling roughly 36,280 shares. Josh Silverman sold 13,367 shares, director Frederick Wilson sold 20,000 shares, and Richard Edward Colburn III sold 2,913 shares. Silverman’s and Wilson’s transactions were executed under pre-arranged Rule 10b5-1 plans, while Colburn’s sale covered tax withholding tied to vested equity awards, reducing the likelihood that the trades signal deteriorating confidence. Etsy insider transaction filing
• Negative Sentiment: The insider transactions represent near-term selling pressure and may attract investor attention because they occurred around the $82–$84 range. However, the sellers retained substantial holdings, including Silverman’s approximately 249,559 shares and Wilson’s approximately 401,329 shares. Etsy director transaction filing

About Etsy

Etsy, Inc operates two-sided online marketplaces that connect buyers and sellers primarily in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.